Sorry for the noob question I'm pretty new to crypto coins and all this stuff. :)
I wonder why the formula
<your hashrate> / <coin difficulty> gives the mined coins as a result...
Formula mentioned on xmg.minerclaim.com
"XMG/Day" is calculated by the current Hashrate/Difficulty. Due to the fact that difficulty is constantly changing, this is only a rough estimate.
Example (from altcoin Coin Magi):
If I have a hashrate of 3.211 MH/s and the coins difficulty is 2.599 (approximately) then my earnings per second (because it's H/s) should be
3,211,000 / 2.599 = ~1235.47 coins per second
1235.47 * ( 60 * 60 *24 ) = 106744608 coins per day
How can this be? The 'fastest' miner (highest hashrate) has 3.211 MH/s and is 'only' earning 32.892 XMG per day?
Did I do something wrong? Is minerclaim wrong? And what's a good formula to calculate mined coins per day?
Thanks in advance!